I have two other homes that I do rent out as well, and another property that I used to and then sold after STR with nice returns and nice appreciation -  so there is plenty of history. 

I have wondered, at length, about purchasing lots that are zoned R-2 / R-3 and selling off the the one or two of them and then keeping one for myself and putting a home on it.  

I do have some money to invest with, but don’t want to continue using it all on a deal or two and then wait for those to close to move onto a new deal. 

One has two properties under there name and the other has none. haha.  

Or, the place could look like your Aunt Gertrude’s house and some elbow grease, sweat equity hustle and two years later sell for a profit. 

And now she wants to drop the entire thing for the next year or two or more.I've wanted to own a rental since I was a teenage, our home has had all the major repairs and upgrades, it's move-in ready at this point.The ideal situation for me is to buy a second home in the next few months, @ ~7%, get into our home before summer, interest rates drop over the next year or 2, house appreciates, we make out like bandits in equity and then if it makes sense we refinance to a lower interest rate.

This year two separate deals in Florida 300+ and 100+ units both in South Florida.

My question is whether or not the combination of the two is a ridiculous idea.

We have two options on ours and the owner can choose. 

Charge one or two things a month on each and pay them off.